TÄBY, SWEDEN – Mycronic senior vice president Ivan Li is exiting the company's senior management team to free up the possibility of listing its Axxon subsidiary on a Chinese stock exchange.

Mycronic previously announced that it exploring the possibility of listing Axxon, the core of its High Volume division, and floating a minority stake. If the company decides to do so, Li cannot be a member of its executive management team. Li will continue to serve as the head of the High Volume division.

"Although the board of directors of Mycronic has not yet made a formal decision to list Axxon, we choose to already now carry through this organizational change, as this will enable more options for the future. Axxon will be governed by a Board of Directors, which I will chair. High Volume will otherwise remain as a division and a reported segment in Mycronic,” said Anders Lindqvist, president and CEO, Mycronic.